Ex-Google CEO Eric Schmidt Says Ethereum (ETH) Blockchain Is a Pretty Powerful Platform

Ex-Google CEO Eric Schmidt Thinks Ethereum Has Major Potential

Billionaire, former chairman of Google and a tech legend Eric Schmidt has some words to silence Ethereum critics. He thinks that Ethereum has a very powerful platform and there is plenty of untapped potentials to be utilized.

Schmidt sat down for an interview with Tyler Cowen that was held by Village Global in San Francisco. They spoke about various things including underused management strategies, future of technology, hiring a Google and much more.

https://youtu.be/HEH3j7AINwU

Schmidt On Blockchain

When asked about his opinion on blockchain, he gave an interesting view, although a very diplomatic one. The following is the actual conversation.

“COWEN: Blockchain, overrated or underrated?

SCHMIDT: In the public format, overrated. In its technical use, underrated.

COWEN: And what do you think that technical use will prove to be? What problem is it there to solve?

SCHMIDT: Well, today, blockchain is a great platform for Bitcoin and other currencies, and it’s a great platform for private banking transactions where people don’t trust each other. I think the most interesting stuff that’s going on is the beginning of execution on top of blockchain, the most obvious example being the capability of Ethereum. And if Ethereum can manage to figure out a way to do global synchronization of that activity, that’s a pretty powerful platform. That’s a really new invention.”

Untapped Potential Of Ethereum

Schmidt thinks that there are compelling improvements happening in Ethereum which has the potential to transform business and society as a whole. He believes that the most interesting things around Ethereum are happening on top of its blockchain.

“And if Ethereum can manage to figure out a way to do global synchronization of that activity, that’s a pretty powerful platform. That’s a really new invention.”

Eric Schmidt has been an early supporter of the technology with him publically praising it back in 2014.

“Bitcoin is a remarkable cryptographic achievement,” Schmidt said. “The ability to create something which is not duplicable in the digital world has enormous value.”

Even back in 2017, he was impressed by the value of Bitcoin crossing the $10,000 mark.